PensionNigeria Weekly Newsletter for Week Ended 17 November 2019. – PensionNigeria

PensionNigeria Weekly Newsletter for Week Ended 17 November 2019.

PensionNigeria Weekly Newsletter for Week Ended 17 November 2019.

In this issue,
Fast Track National Identity Number (NIN) Registration
Only FCT & 6 States comply with Pension Act
Who is PenCom, PFA, PFC, CPFAs & PTAD
FG not complying with PRA 2014
Pension Budget Allocation
Minimum Pension
& Many More

Read full news below;

Regulatory News

Only 7 out of 37 States in Nigeria has fully Implemented Contributory Pension Scheme – PenCom. Read full news here

PenCom Partners NIMC To Fast Track Registration of National Identity Number (NIN) For Retirement Savings Account (RSA) Holders. Read full news here

National Pension Commission (PenCom) is the regulator for pension in Nigeria.
Learn more about PenCom’s Objectives, Powers and Functions here

Pension Fund Administrators (PFAs) are your major point of contact under the Contributory Pension Scheme,
Learn more and see list of all PFAs in Nigeria here

Pension Fund Custodians (PFCs).
As a Retirement Savings Account holder you have no direct dealings with the PFCs, but you should learn about them here because they are the Banks for the Pension Fund Administrators (PFAs). Learn more here 

Closed Pension Fund Administrators (CPFAs)
Some say the best pension Schemes in the Private sector are the ones that transformed into CPFAs, but they will be going away soon, learn more about them here before they disappear.

Pension Transitional Arrangement Directorate (PTAD) is responsible for payment of pension to existing retirees of FG who are exempted from the Contributory Pension Scheme. PTAD has transformed pension under the Defined Benefit Scheme. Learn more about PTAD here

General Pension News

Workers to FG: Remit our Pension Contributions Accurately & Promptly. This is what FG currently Remits. Read full news here

Minimum Pension: FG to release Minimum Pension Implementation Circular. Read full news here

Budget Allocation For Pension Increases by N422bn In Four Years, but it’s still Not Enough, These are the Steps FG is taking to make things better. Read full news here

Association wants Employers Compelled to Remit Pension Contributions while giving Employees some Vital Advises. Read full news here

Retired Police Officers Outstanding 13 Months Accrued Rights, Here are Actions taken by NPF PFA and Nigeria Police Force to solve the issue. Read fill news here

Pension Fraud

Maina, former Chairman of the Pension Reform Task Team, Wanted in Niger Republic over Dollars found in his House in Niamey. Read full news here

State Pension News

Imo State Commences Payment of Pensions to its Broadcasting Corporation Retirees. Read full news here

Edo State Government invites Pensioners in Batches 54 to 57 for Physical and Documentary Verification. Read full news here

PTAD News

PTAD Verifies 11,363 Parastatals Pensioners in the North Central Plus Details on Abuja Verification. Read full news here 

Pension is Your Right,
An Insurance for Old Age

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